Burt Wealth Advisors Cuts Stake in Chevron Corp. (CVX)
Burt Wealth Advisors lowered its position in Chevron Corp. (NYSE:CVX) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,598 shares of the company’s stock after selling 439 shares during the period. Burt Wealth Advisors’ holdings in Chevron Corp. were worth $272,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Chevron Corp. during the second quarter worth about $2,118,000. Howard Capital Management raised its stake in shares of Chevron Corp. by 1.2% in the second quarter. Howard Capital Management now owns 136,346 shares of the company’s stock worth $14,293,000 after buying an additional 1,676 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Chevron Corp. by 0.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,644,631 shares of the company’s stock worth $172,407,000 after buying an additional 11,249 shares in the last quarter. First Quadrant L P CA raised its stake in shares of Chevron Corp. by 0.8% in the second quarter. First Quadrant L P CA now owns 245,387 shares of the company’s stock worth $25,724,000 after buying an additional 2,042 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Chevron Corp. by 1.8% in the first quarter. Arizona State Retirement System now owns 730,403 shares of the company’s stock worth $69,680,000 after buying an additional 13,100 shares in the last quarter. 62.25% of the stock is owned by institutional investors and hedge funds.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.42% during midday trading on Tuesday, hitting $101.79. The company had a trading volume of 4,720,887 shares. The company’s market capitalization is $192.03 billion. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $107.58. The company’s 50-day moving average price is $101.00 and its 200 day moving average price is $101.46.
Chevron Corp. (NYSE:CVX) last posted its earnings results on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm had revenue of $29.28 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the prior year, the business earned $0.30 EPS. Chevron Corp.’s quarterly revenue was down 27.4% compared to the same quarter last year. Equities research analysts predict that Chevron Corp. will post $1.31 earnings per share for the current fiscal year.
CVX has been the subject of a number of analyst reports. Vetr lowered shares of Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price objective for the company. in a report on Monday, June 27th. Barclays PLC reissued an “equal weight” rating and issued a $125.00 price objective on shares of Chevron Corp. in a report on Monday, October 10th. Zacks Investment Research raised shares of Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 price objective for the company in a report on Monday, October 3rd. Jefferies Group reissued a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Finally, Simmons raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $110.00 to $117.00 in a report on Tuesday, August 9th. Twelve analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $105.73.
In other news, Director Inge G. Thulin bought 487 shares of the company’s stock in a transaction on Monday, August 15th. The shares were purchased at an average price of $102.87 per share, with a total value of $50,097.69. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael K. Wirth sold 125,000 shares of Chevron Corp. stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $100.47, for a total transaction of $12,558,750.00. Following the transaction, the insider now directly owns 4,222 shares in the company, valued at approximately $424,184.34. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
About Chevron Corp.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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